Expected yields on Japanese real estate remain at historic lows
Despite the turmoil happening in some overseas commercial real estate sectors, investors in Japanese real estate continue to anticipate record-low yields. That may be due in part to low interest rates which make it one of the few places with a positive yield spread over government bonds. The latest investor survey by the Japan Real Estate Institute in April shows expected yields have either remained the same or dropped, depending on the asset class and location.Read more
Further restrictions on Harumi Flag apartment sales
Further sale limits have been imposed on the Harumi Flag project on Tokyo Bay to curb speculation. The repurposed Athlete’s Village condos have seen as many as 100 ~ 200 purchase applications per apartment as speculators seek to flip them once complete.Read more
Real estate transaction volume drops 25% to 2.1 trillion Yen
Real estate transaction volume for the second half of 2022 was 2.1 trillion Yen (approx. US$15.7 billion), according to the Japan Real Estate Institute. This was a 25% drop from the second half of 2021.Read more
Tokyo rents continue 3-month record-high streak
In March, average apartment rents in Tokyo, Kanagawa, Saitama and Chiba all saw a year-on-year increase due to both a continued increase in the share of newer apartments commanding higher rents as well as being the peak moving season. Read more
Tokyo Apartment Sales in March 2023
The following is a selection of apartments that were reported to have sold in central Tokyo during the month of March 2023:
New apartment supply drops 20% in February
According to the Real Estate Economic Institute, 1,821 brand-new apartments were released for sale across greater Tokyo in February, down 20.4% from last year. Read more
Average price of an apartment in Tokyo reaches new record in February
According to Tokyo Kantei, the average asking price for a 70 sqm apartment in Tokyo’s 23 wards was 69,770,000 Yen in February, up 0.5% from the previous month and up 4.1% from last year. This price exceeded a previous record high set last October.